IGM Financial Inc. (TSE:IGM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$42.20 and last traded at C$42.19, with a volume of 8186 shares traded. The stock had previously closed at C$41.65.
Analyst Upgrades and Downgrades
IGM has been the subject of several analyst reports. Royal Bank of Canada upped their target price on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their target price on shares of IGM Financial from C$38.00 to C$39.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Scotiabank boosted their price target on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Finally, BMO Capital Markets decreased their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$43.71.
Read Our Latest Stock Analysis on IGM
IGM Financial Stock Up 0.8 %
The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The firm has a market capitalization of C$9.94 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The business's 50-day moving average price is C$39.37 and its 200-day moving average price is C$37.62.
IGM Financial (TSE:IGM - Get Free Report) last released its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The company had revenue of C$816.31 million during the quarter, compared to analysts' expectations of C$826.00 million. As a group, equities research analysts predict that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.
IGM Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 31st will be given a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a yield of 5.36%. IGM Financial's payout ratio is 63.38%.
About IGM Financial
(
Get Free Report)
IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.
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